Barclays Sticks to Their Hold Rating for SecureWorks Corp

By Ryan Adsit

In a report released yesterday, Saket Kalia from Barclays maintained a Hold rating on SecureWorks Corp (NASDAQ: SCWX), with a price target of $11. The company’s shares opened today at $10.45.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 10.3% and a 57.5% success rate. Kalia covers the Technology sector, focusing on stocks such as Nuance Communications, Palo Alto Networks, and Ellie Mae Inc.

SecureWorks Corp has an analyst consensus of Moderate Buy, with a price target consensus of $13.33.

Based on SecureWorks Corp’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $114 million and GAAP net loss of $14.24 million. In comparison, last year the company earned revenue of $99.79 million and had a GAAP net loss of $11.63 million.

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SecureWorks Corp. is a provider of intelligence driven information security solutions focused on protecting its clients from cyberattacks. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond rapidly to security breaches and predict emerging threats. The company was founded in May 2009 and is headquartered in Atlanta, GA.